Steel Partners and its affiliates comprise a global diversified portfolio of product and service businesses. Together, our businesses generate over $1.6B in revenue, and employ over 3,500 employees in 70 locations. We are interested in growing our portfolio of publicly-traded and private companies through acquisition. We prefer profitable acquisition targets, but we will consider unprofitable bolt-on targets.
Steel Partners focuses on enhancing long-term value through the implementation of operational and strategic programs, including operational excellence, strategic sourcing, corporate development, legal and other shared services.
We are interested in new industrial or aerospace/defense businesses with $25-75MM of EBITDA. We prefer companies with gross margins above 20%, high return on invested capital, sustainable competitive advantages and strong brands. We like businesses participating in structural changes where the business is positioned to gain market share. We will consider a transaction or series of transactions for up to $1B in enterprise value.
We are interested in purchasing all or a significant portion of a private equity fund that is beyond its investment period, and we believe that our approach could yield significant advantages to the limited partners and general partner. We are willing to work with the general partner and share fees and upside based on attaining mutually agreed performance goals. We would be willing to look at portfolios of up to $1B in enterprise value.
We have significant experience in working through pre-bankruptcy and bankruptcy issues. We prefer situations where the business has the characteristics stated above, but where the balance sheet is challenged and where our balance sheet can provide a meaningful improvement to the company’s outlook.